Anticipation: The next stage of the U.S.-China trade war starts at 12:01 a.m. tonight
The office of the U.S. Trade Representative has confirmed that tariffs on $34 billion in Chinese goods will go into effect at 12:01 a.m. Washington time tonight. This is on top of tariffs on steel, aluminum, washing machines, and solar panels that President Donald...
Stocks reverse after White House economic advisor Kudlow signals tougher policy on Chinese investments
Yesterday and for the first part of today, U.S. stocks moved higher on hopes of lessening tensions between the United States and China over trade and investment. Specifically, stocks moved up after President Donald Trump said he would stick with the existing mechanism...
Canadian tariffs on global (not just U.S.) steel imports a major escalation in building trade war
The Canadian government will slap a combination of quotas and higher tariffs on steel imports from China, South Korea, Brazil and Turkey. This is a major step beyond the retaliatory tariffs announced by U.S. trading partners in response to higher U.S. tariffs of 25%...
Today the markets decide that this “trade stuff” isn’t just a negotiating ploy
Last week the market consensus was that all the moves to raise U.S. tariffs on goods from China, the European Union, Canada, and everyone else in the world--were just parts of a negotiating strategy by President Donald Trump. Certainly we weren't on the path of some...
Selling MGM Resorts on escalating China trade war fears
I still believe in all the catalysts that I touted for MGM Resorts International (MGM) for late this year--yes, the company's new Macao casino will give the company more exposure to that market, yes, a wave of states legalizing sports gambling plays to MGM's...
Selling Starbucks out of Jubak Picks on escalating China trade battle
One of my core beliefs after running the Jubak Picks portfolio for more than 20 years now is that when the reason I picked a stock to buy evaporates, then it's time to sell. So today I'm selling Starbucks (SBUX) out of my Jubak Picks portfolio. When I added the stock...
Divergence! Stocks divide on China, trade exposure
The indexes tell the story. Yesterday, Wednesday, June 20, the export-oriented Dow Jones Industrial Average slipped 0.17%. But the Russell 2000, an index dominated by smaller companies with a primary domestic emphasis in their sales, climbed 0.80%. The NASDAQ...
So far markets see proposed China tariffs as just a negotiating ploy
If you're wondering why U.S. financial markets haven't moved down more strongly on news that sure sounds like the U.S. and China are headed to a trade war, you don't need to look any further than comments by Goldman Sachs Chief Executive Officer Lloyd Blankfein...
So much for that U.S-China trade truce
The Trump administration has announced higher tariffs on $50 billion in Chinese export and promised additional restrictions on Chinese investments. China immediately promised to impose tariffs with "equal scale, equal intensity" on U.S. exports. The Commerce Ministry...
Saturday Night Quarterback says (on a Sunday), For the week ahead expect…
If the markets do decide that Italy is a problem for another day, that means we’ll revert to the trends that set direction before the crisis gained top of the mind status: oil prices (and the likelihood of an increase in production from OPEC), an interest rate increase from the Federal Reserve on June 13, and tariffs and the possibility of a U.S./China trade war.
Has someone in Beijing read The Art of the Deal?
The next move that would increase China’s leverage–according to then real estate tycoon Donald Trump’s book–would be to cancel the talks scheduled to begin on Wednesday in preparation for the arrival of a U.S. delegation led by Commerce Secretary Wilbur Ross. If those preparatory talks fail to reach agreement on an outline of topics the June 2 trip by Ross could be canceled, the Wall Street Journal is reporting today.
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